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Crown (CCK) Reports Q1 Earnings: What Key Metrics Have to Say
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Crown Holdings (CCK - Free Report) reported $2.97 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 6%. EPS of $1.20 for the same period compares to $2.01 a year ago.
The reported revenue represents a surprise of -3.89% over the Zacks Consensus Estimate of $3.09 billion. With the consensus EPS estimate being $1.04, the EPS surprise was +15.38%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
External Sales- Americas Beverage: $1.26 billion versus the three-analyst average estimate of $1.21 billion. The reported number represents a year-over-year change of +2.9%.
External Sales- European Beverage: $479 million versus $492.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.1% change.
External Sales- Transit Packaging: $564 million versus the three-analyst average estimate of $583.91 million. The reported number represents a year-over-year change of -14.2%.
Net Sales- Other segments: $332 million versus $314.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.7% change.
External Sales- Asia Pacific: $338 million versus the three-analyst average estimate of $402.33 million. The reported number represents a year-over-year change of -18.2%.
Segment Income- Americas Beverage: $178 million versus $168.63 million estimated by three analysts on average.
Segment Income- European Beverage: $45 million versus the three-analyst average estimate of $36.52 million.
Segment Income- Transit Packaging: $78 million versus the three-analyst average estimate of $67.10 million.
Segment Income- Other segments: $27 million versus the three-analyst average estimate of $42.07 million.
Segment Income- Corporate and other: -$44 million versus the three-analyst average estimate of -$37.24 million.
Segment Income- Asia Pacific: $36 million versus $39.26 million estimated by three analysts on average.
Shares of Crown have returned +2.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Crown (CCK) Reports Q1 Earnings: What Key Metrics Have to Say
Crown Holdings (CCK - Free Report) reported $2.97 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 6%. EPS of $1.20 for the same period compares to $2.01 a year ago.
The reported revenue represents a surprise of -3.89% over the Zacks Consensus Estimate of $3.09 billion. With the consensus EPS estimate being $1.04, the EPS surprise was +15.38%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- External Sales- Americas Beverage: $1.26 billion versus the three-analyst average estimate of $1.21 billion. The reported number represents a year-over-year change of +2.9%.
- External Sales- European Beverage: $479 million versus $492.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.1% change.
- External Sales- Transit Packaging: $564 million versus the three-analyst average estimate of $583.91 million. The reported number represents a year-over-year change of -14.2%.
- Net Sales- Other segments: $332 million versus $314.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.7% change.
- External Sales- Asia Pacific: $338 million versus the three-analyst average estimate of $402.33 million. The reported number represents a year-over-year change of -18.2%.
- Segment Income- Americas Beverage: $178 million versus $168.63 million estimated by three analysts on average.
- Segment Income- European Beverage: $45 million versus the three-analyst average estimate of $36.52 million.
- Segment Income- Transit Packaging: $78 million versus the three-analyst average estimate of $67.10 million.
- Segment Income- Other segments: $27 million versus the three-analyst average estimate of $42.07 million.
- Segment Income- Corporate and other: -$44 million versus the three-analyst average estimate of -$37.24 million.
- Segment Income- Asia Pacific: $36 million versus $39.26 million estimated by three analysts on average.
View all Key Company Metrics for Crown here>>>Shares of Crown have returned +2.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.